Why you must use Facebook Ads Spy tool

by Andrew R. Researcher

Of all the strategies of thriving in business, competition analysis plays the most prominent role in every aspect. That means competitive analysis would make or break your sale to a great extent. Looking at the scenario from digital or social media marketing, having Facebook competition analysis is a must if a business wants to thrive in the digital world. To achieve it, you must use Facebook Ads Spy tool with the view to getting a realistic and somewhat accurate data of your competitors.

To put in the simple term, competitive analysis isn’t simply about keeping tabs on your competitor. It’s about using your competitor as a means of reaching their customers.

The consumer feedback from your competitors' customers might help you improve the precision and effectiveness of your Facebook marketing plan. Finally, analysis saves you time and money by eliminating the need for split-testing.

Competitive analysis provides detailed recommendations for your ad's design, audience, and copy. Give your marketing a boost: you'll know what to say in an ad to draw customers away from the competitors.

Run your competitive analysis using Facebook Ads Spy tool

1) Get reference from your surroundings

The Jobs-to-Be-Done paradigm is a helpful method to think about your product and approach marketing. It inquires, "What is the task that your customer wishes to be completed?" Will your product aid in the completion of that task?

You may find out who your rivals are by asking them how they currently complete this work, or "job." The following are some questions to consider:

· How do they currently get a certain task done?

· What apps/services/brands do they turn to?

· What tools do they use?

· What solutions are people coming up with/hacking together?

You can find people through personal networks, email signups, blogging, and even paid acquisition.

2) Discover Competitors from your business aspect

This is a rival who has discovered a strong market for their goods. This is the rival whose consumers you should pay attention to since they have expressed an interest in using your competitor's product. Identifying this opponent can also disclose the sorts of clients the competition is aiming for.

With Sean Ellis' product/market fit question in mind, poll your consumer segment: how would you feel if you couldn't use [the competitor's] product any longer? If more than 40% of those polled indicated they'd be "very dissatisfied," that's a competition with product/market fit.

3) Interview your competitor’s customers

Your competitor’s most dissatisfied customers have a lot of insight into where your product can do right. That’s why you should interview them for more information about your customer’s weak points. Try to tease out the events that caused them to hire (and fire) the competitor’s product.